Best Answer: Unfortunately, it takes time to build up credit and repair a low credit score, however, there are proactive steps you can take to help. The easiest way you can begin to repair your credit score is by paying all of your bills on time, even before the due date if possible. Whether it’s rent, utility, etc. When trying to improve your credit score it’s important to show you’re responsible enough to pay bills on time.
When creditors calculate your credit score, and find any outstanding overdue accounts turned over to collection agencies or bankruptcies on file, those will certainly have a negative impact on your credit score. If you have a bill turned over to a collection agency, contact them immediately to setup some type of payment plan.
Do you have a long credit history? Some credit scoring models will take into consideration your previous credit track record. Since currently you mentioned that you don’t
own a credit card, then that could be considered a positive. If and when you do decide to apply for a credit card, don’t apply for more than one credit card with a low credit limit. If you’re approved, never go over the credit limit or miss paying a monthly payment, because if you do, it only incurs late-fee payments. Rather than making purchasing with a credit card, the better option is to either save money in a savings account and pay cash for large ticket items.
The simplest advice to repair your credit score is to be frugal, spend wisely, and never miss a payment, whether it’s a month late on rent or an overdue utility payment. You can find additional tips on how to improve your credit score and credit repair agencies here: http://www.debit-card-guide.com/credit_s. Typically, the amount of time it takes to clean up a bad credit score is an average of 7 years. Hope that helps!